Trump Administration Starts a New Round of Tariffs, Increases Trade War Tension

Trump Administration Starts a New Round of Tariffs, Increases Trade War Tension

WASHINGTON-President Donald Trump said the trade war with China wouldn't hurt USA consumers, after the latest round of tariffs on Chinese imports, which mostly hit consumer goods, went into effect on Sept 1.

Even though President Trump has been trying to appease jittery financial markets and calm investors, the rivals have failed to agree on basic terms for relaunching talks that broke off in May because of the level of mistrust.

"The big stick of tariffs can't hold back China's development", the Chinese Communist Party newspaper People's Daily said in the headline of a Sunday article, according to a CNBC translation of the Chinese text.

But Chinese state media struck a defiant note on Sunday.

Exhausted but excited, Barshefsky and Gene Sperling, director of the National Economic Council, called then-US president Bill Clinton from the Ministry of Foreign Trade and Economic Cooperation (now the Ministry of Commerce) in Beijing to tell him the good news.

"If the USA truly wants to reach a mutually-benefiting and win-win deal with China, some people in the US must honor the consensus, work in concert with the Chinese side and return to the right track with sincerity", the state-run People's Daily wrote in a commentary on Tuesday.

As a result of Trump's higher tariffs, many USA companies have warned that they will be forced to pass on to their customers the higher prices they will pay on Chinese imports. This will ensure American workers are not only protected, but are the most competitive in the world.

Taylor Swift's Lover is America's fastest-selling album since her last record
The new album has earned 867,000 equivalent album units in the USA last week, according to Nielsen Music, cited Billboard . He added a "huge" thanks to his band, who performed the love song live without any rehearsal that day.

"For all of the "geniuses" out there, many who have been in other administrations and "taken to the cleaners" by China, that want me to get together with the European Union and others to go after China Trade practices remember, the European Union & all treat us VERY unfairly on Trade also".

China retaliated Sunday with its own tariff plan taking effect at 12:01 p.m. local time. "We are talking to China, the meeting is still on as you know, in September". That hasn't changed. They haven't changed and we haven't. We'll see what happens. The AFL-CIO is the largest federation of unions in the US."It has to address currency rebalancing, it has to have a long-term slant to good jobs in this country".

By some measures, USA manufacturing is already in a recession.

His finger-pointing has extended beyond China. He has also announced that existing 25 percent tariffs on a separate group of $250 billion of Chinese imports will increase to 30 percent on October 1.

The Dow Jones Industrial Average lost more than 350 points in the first half-hour of trading, A new set of Trump's 15 per cent tariffs took effect Sunday, covering a portion of the $300 billion in goods from China that so far had been spared. A separate batch of about $160bn in Chinese goods - including laptops and cellphones - will be hit with 15% tariffs on December 15.

Major developments surrounding the trade conflict are likely to continue to drive crude oil prices in the next couple of days.

Trump on August 1 announced tariffs across an initially planned $300 billion worth of goods, after July trade talks between US and Chinese officials yielded little progress.

Related News:

  • Suspect arrested after killing 8 school children in China

    Suspect arrested after killing 8 school children in China

    In October, a woman slashed children on the playground of a kindergarten with a cleaver, leaving 14 pupils injured. The suspect was reportedly released from jail past year , after serving a sentence for attempted murder .
    Darmian leaves Man United to join Parma

    Darmian leaves Man United to join Parma

    Manchester United also thanked the Italy global for the services rendered to the club and wished him success at his new club. Darmian, 29, joined United from Torino in 2015 and made 28 appearances in his first season, with Louis van Gaal as manager.
    Bencic dumps US Open champion Osaka out in last 16

    Bencic dumps US Open champion Osaka out in last 16

    Well, here's how: Goerges served for the victory at 5-4 in the second set, coming within one point of ending things right there. She improved to 3-0 against Osaka this season and now has a tour-leading nine victories over top-10 opponents in 2019.
  • Windows 10 May 2019 version fixes Long standing bugs

    Windows 10 May 2019 version fixes Long standing bugs

    Windows Insider testers reported seeing CPU spikes of between 30% and 40% in Task Manager as well as higher memory usage. The Windows Insiders that encountered the KB4512941 problem, repeatedly report the issue to the management allegedly.
    First lesson pilot has to land plane on his own

    First lesson pilot has to land plane on his own

    He praised both the student pilot and the tower saying: "I'm telling you, you don't get that cooperation very often". Sylvester managed to execute what appeared to be a textbook landing, touching the plane down at around 6pm.
    Rafael Nadal gives eight word response to jaw-dropping US Open shot

    Rafael Nadal gives eight word response to jaw-dropping US Open shot

    It's his deepest run at a Grand Slam event after reaching the fourth round at this year's Wimbledon. By contrast, Chung had come through three rounds of qualifying and spent nine hours more on court.
  • Samsung Galaxy A90 5G Price in India, Specifications, Comparison (3rd September 2019)

    Samsung Galaxy A90 5G Price in India, Specifications, Comparison (3rd September 2019)

    As seen on the Samsung Galaxy M30s teaser on Amazon India, the smartphone will be launched at 12pm (noon) IST on September 18. The Galaxy Fold's premium $1980 price tag is unsurprisingly paired with a long list of premium internal hardware.
    Minnesota Twins Slug MLB Home Run Record and It's Only August!

    Minnesota Twins Slug MLB Home Run Record and It's Only August!

    Designated hitter Nelson Cruz blasted a 450-foot dinger in the eighth inning to tie the previous record set by the 2018 Yankees . Take the 2019 Minnesota Twins - how would they stack up against other well-known lineups in Major League Baseball history?
    Wisconsin Humane Society welcomes 33 cats evacuated ahead of Hurricane Dorian

    Wisconsin Humane Society welcomes 33 cats evacuated ahead of Hurricane Dorian

    Some fluctuations in intensity are likely, but Dorian is expected to remain a powerful hurricane during the next few days. The National Hurricane Center issued a hurricane warning from Jupiter inlet to the Volusia/Brevard county line.
  • Android 10 stable update announced, rolling out already

    Android 10 stable update announced, rolling out already

    But the unfortunate truth is that Android 10 is unlikely to hit even half of all users' smartphones 12 months from now. Thanks to both Google and beta testers in the beta phase, we know almost every new feature included in Android 10 .
    How Hurricane Dorian is impacting travelers

    How Hurricane Dorian is impacting travelers

    Most people went to shelters as the storm approached, with tourist hotels shutting down and residents boarded up their homes. The storm's path has been tricky to predict , as an "atmospheric steering wheel" that was nudging Dorian northward weakened.
    Henrikh Mkhitaryan leaves Arsenal for Roma on season-long loan

    Henrikh Mkhitaryan leaves Arsenal for Roma on season-long loan

    Mkhitaryan is the latest big name arrival at the Stadio Olimpico this summer as manager Paulo Fonseca attempts to turn Roma into title challengers.

Most liked

These are the iPhone 11 pre-order and availability dates
The iPhone Pro Max, on the other hand, gets a 3,500 mAh battery and a starting price of $1,099. The Chinese site has ventured to guestimate the prices of the iPhone 2019 models also.

Escape routes on doomed Santa Cruz boat were blocked by fire: authorities
The initial critical moments of the deadly fire that engulfed a dive boat off Southern California are still under investigation. He said it was "perfectly normal for the crew to be up on that assigned deck" and closest to an exit when the fire broke out.

Two-year-old iOS hack may have affected Android and Windows devices too
The exploit chains affected iOS versions spanning from iOS 10.0.1 released in September 2016 to 12.1.2 issued last December. Ian Beer, from Google's Project Zero, said in a blog post that the hacked sites didn't discriminate against victims.

City, Liverpool record easy wins, Chelsea settle for draw
United supporters must wish they had some of their local rivals' firepower as Southampton held on for a 1-1 draw at St. Mary's despite playing the last 17 minutes, plus stoppage time, a man down after Kevin Danso's red card.

Hurricane Dorian impacting travelers nationwide, including in San Diego
The staff members and volunteers who were sent over will be helping with operations, fundraising, and disaster mental health. Now as forecasters say Dorian might not just hit Florida, but the Carolinas and Georgia too, Bush says she is not surprised.

Bobby Duncan completes move to Fiorentina
Liverpool pledged to seek a resolution with Duncan and described Rubie's allegations as "inaccurate" and "inflammatory". Duncan also featured for the first-team during their pre-season tour of the United States in July.

Download the Samsung Galaxy A90 5G wallpapers here!
While the phone will be available in South Korea from September 4, its Australian release date and pricing is not yet confirmed. Whether it has run out of such experiments or has changed its mind, the Galaxy A90 5G is anything but experimental.

US Open: Bianca Andreescu defeats Caroline Wozniacki to reach fourth round
Bianca Andreescu defeated Caroline Wozniacki in straight sets and afterwards she was likened to a three-time US Open champion. Meanwhile, Denis Shapovalov of Richmond Hill, Ont., was ousted in the third round by No. 13 seed Gael Monfils of France.

World of Warcraft Classic is Now Available
Players are being faced with massive queue times and, as a result, Blizzard has been opening up new servers throughout the day. The publisher filpped the big switch on Monday afternoon and World of Warcraft Classic servers are now live .

Dozens of Cars Destroyed in Car Park Fire at Irish Suburban Mall
12 fire appliances attended the scene from across Cork City and County, after a auto caught fire in a multi-storey vehicle park. As many as 60 vehicles were destroyed during a huge fire in a shopping centre auto park in southern Ireland.

Hundreds protest over Prime Minister's shutting of Parliament
Protesters took to the streets around parliament on Wednesday, yelling "you shut down our parliament, we shut down the streets". The Prime Minister also said that he had seen "a willingness to talk about alternatives to the anti-democratic backstop".

Messi, Quintero and Zsóri on shortlist for Puskas Award
The pair, who shard the award for a decade, saw an end to their monopoly a year ago when Luka Modric pipped them to the trophy. The winners will be announced at a ceremony at Milan's iconic Scala theatre on September 23.

You can once again pre-register to buy the Samsung Galaxy Fold
So it comes as a bit of a surprise to see that Samsung's next 5G phone, according to leaks, will be the Samsung Galaxy A90 5G . Samsung will offer this device with 6GB and 8GB RAM options coupled with 128GB of internal storage and a microSD card slot.

Brad Pitt at Kanye West Sunday church service
Reality star and entrepreneur Kim Kardashian West has admitted that she would not be able to "handle" more than four children. Apparently Brad is a fan of Kanye's Sunday Service .

Ranveer Singh wraps up England schedule of '83'
Mumbai: The team of "83", starring Ranveer Singh , has wrapped up shooting the crucial London schedule of the film. The unit of the film will now return to India for further schedules involving Ranveer and many other actors.